By Chathushka Perera
ISLAMABAD, Pakistan (CWBN)_ The Chief Minister of Balochistan, Jam Kamal Khan Alyani, stated that the major infrastructural revamping of Gwadar under the Gwadar Smart Port City Master Plan, would bring it to the level of the most developed cities in the world.
Shahzeb Khan Kakar, Director-General of the Gwadar Development Authority, stated that about PKR 1 billion (USD 6.21 million) has been allocated for the development of Old City, Gwadar.
The overall project, valued at USD 500 million, is expected to support rapid population and expansion, would facilitate a mixed community of locals and Chinese expats, inclusive of improved water supplies, sewage facilities, air and sea ports, educational, financial and retail institutions, a mosque and a Chinese temple.
Currently the economy in Gwadar is largely dependent on low-scale fishing that supports the local community, however, it features the deepest sea port in the world which carries serious economic advantages.
The first phase of the project was completed in 2007 at an expense of USD 248 million, however, was not operated till China’s state-owned Oversees Port Holdings Ltd. acquired the port in 2013 and invested in its development in 2015. 80% of finances for the ports development are based on soft-loans from China, while employing more than 500 Chinese workers.
In 2015, following the Pakistani Government’s alignment with China’s Belt and Road Initiative (BRI), intentions to re-commence the project were announced with a budget of USD 46 billion. The BRI has a critical investment in Gwadar’s success, this includes investments in gas pipelines and FLNG facilities.
Edited by Elishya Perera
